SLRWD Exploring Other Funding Options For Proposed Projects
Friday Jun 13, 2014 11:08am
By: Jim Measel
(FLINT) - The Steuben Lakes Regional Waste District maybe able to use savings from refunded bonds to help finance proposed projects in the northeast corner of the district and at Lake Pleasant. John Julien from Umbaugh and Associates spent almost 90 minutes on Thursday night explaining what action the District Board of Trustees could take. He said a Rural Development loan from the 2003 project could be paid off six years faster and the district could save nearly $6 million with the new bonds. District attorney Bruce Boxberger would have to draw up a bond ordinance if the board decided to go this route. The ordinance would also eliminate a previously planned 2019 rate increase. U.S.D.A. Rural Development has been slow to award funds to help finance the two proposed projects after going to a more regional approach which has frustrated district officials. In addition, Julien said rates from previous projects could be blended which would make the monthly rate for everyone $77.75 and the district would have to borrow $11 million if the bond refunding is pursued. A special meeting has been tentatively scheduled for June 25th for possible board action.